Tue, May 14, 6:02 PM (270 days ago)
Jasper Therapeutics, Inc. reported a net loss of $13.7 million for Q1 2024, a slight improvement from $14.3 million in Q1 2023. Operating expenses increased by 8% to $15.1 million, driven by a 5% rise in R&D expenses to $10.3 million and a 15% increase in G&A expenses to $4.8 million. Despite higher personnel costs, external R&D costs decreased due to lower manufacturing and pre-clinical study expenses. Interest income rose to $1.4 million, contributing to a total other income of $1.3 million, a significant improvement from the $0.3 million expense in Q1 2023. Cash and equivalents increased to $118.5 million, bolstered by a $47.2 million underwritten offering. The company expects to need additional financing to continue its development programs.